A Latvian bank has been hit with the stiffest fine possible for involvement in money laundering connected to the case of the whistle-blowing Russian lawyer Sergei Magnitsky.

Latvia's Financial and Capital Market Commission announced that it has levied a $191,000 fine on the bank for its role in laundering $230 million stolen from the Russian government.

The regulator did not name the Latvian bank.

The investigation started after Heritage Capital Management, where Magnitsky worked, filed a complaint in July 2012 naming six Latvian banks that allegedly received funds from the huge illegal tax refund Magnitsky exposed.

A police official accused by Magnitsky began an investigation against him for tax fraud.

Magnitsky was detained in 2008 and died in pretrial detention in 2009 after being beaten and denied medical care.